RBI extends supersession of the board of Abhyudaya Co-operative Bank, Mumbai, by one year from 24 November 2026
TaxByKK · Compliance News · taxbykk.com9 Nov 2026
In short
The Reserve Bank has extended by one year, from 24 November 2026, the supersession of the Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai. The board was first superseded for a year on 24 November 2023 for material concerns arising from poor governance standards, and the period was extended from 24 November 2024 and again from 24 November 2025. Shri Satya Prakash Pathak continues as Administrator, assisted by the Committee of Advisors of Shri Venkatesh Hegde, Shri Devendra Kumar and Shri Suhas Gokhale.
- Authority
- Reserve Bank of India
- Press release
- 2026-2027/1473
- Date
- 9 November 2026
- Bank
- Abhyudaya Co-operative Bank Ltd., Mumbai
- Legal basis
- Section 36AAA(1) read with Section 56 of the Banking Regulation Act, 1949
- Extension
- One further year from 24 November 2026
- Administrator
- Shri Satya Prakash Pathak
- Committee of Advisors
- Shri Venkatesh Hegde, Shri Devendra Kumar, Shri Suhas Gokhale
What changed
| Item | Before | Now |
|---|---|---|
| Supersession of the board | In force till the close of business on 23 November 2026 | Extended for one year from 24 November 2026 |
| Administration | Administrator assisted by a Committee of Advisors | Same Administrator and Committee continue |
The press release does not mention deposits, withdrawal limits or the bank's financial position, and it does not state a new end date; one year from 24 November 2026 points to 23 November 2027, but that is our reading.
Who it applies to
- Depositors and members of Abhyudaya Co-operative Bank
- Borrowers and shareholders of the bank
- Auditors, CAs and lawyers advising the bank's customers
What to do
- Depositors: this release does not change access to deposits; check the bank and RBI notices for any separate directions.
- Keep the bank's notices for any change in the Administrator or Committee.
Reference
RBI Press Release 2026-2027/1473 dated 9 November 2026, Supersession of Board of Directors of Abhyudaya Co-operative Bank Ltd., Mumbai - Extension of period.
Read the official PDF: RBI press release 1473Written by TaxByKK from the official notification. Check the official text before you act on it.
Frequently asked questions
How long is the extension?
One year, from 24 November 2026.
Who runs the bank?
Shri Satya Prakash Pathak as Administrator, assisted by the Committee of Advisors named in the release.
Why was the board superseded?
The release cites material concerns arising from poor governance standards.